Ray Dalio: Principles, the Economic Machine, Artificial Intelligence & the Arc of Life

Ray Dalio is the founder, Co-Chairman and Co-Chief Investment
Officer of Bridgewater Associates, one of the world's largest and
most successful investment firms that is famous for the principles
of radical truth and transparency that underlie its culture. Ray is
one of the wealthiest people in the world, with ideas that extend
far beyond the specifics of how he made that wealth. His ideas,
applicable to everyone, are brilliantly summarized in his book
Principles. This conversation is part of the Artificial
Intelligence podcast. If you would like to get more
information about this podcast go to https://lexfridman.com/ai or
connect with @lexfridman on Twitter, LinkedIn, Facebook, Medium, or
YouTube where you can watch the video versions of these
conversations. If you enjoy the podcast, please rate it 5 stars on
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by Cash App. Download it (App Store, Google Play), use code
"LexPodcast".  Here's the outline of the episode. On some
podcast players you should be able to click the timestamp to jump
to that time. 00:00 - Introduction 02:56 - Doing something that's
never been done before 08:39 - Shapers 13:28 - A Players 15:09 -
Confidence and disagreement 17:10 - Don't confuse dilusion with not
knowing 24:38 - Idea meritocracy 27:39 - Is credit good for
society? 32:59 - What is money? 37:13 - Bitcoin and digital
currency 41:01 - The economic machine is amazing 46:24 - Principle
for using AI 58:55 - Human irrationality 1:01:31 - Call for
adventure at the edge of principles 1:03:26 - The line between
madness and genius 1:04:30 - Automation 1:07:28 - American dream
1:14:02 - Can money buy happiness? 1:19:48 - Work-life balance and
the arc of life 1:28:01 - Meaning of life